Tuesday, August 6, 2013

Statement of David Stevens on President Obama's Housing Speech


David H. Stevens
WASHINGTON, DC. (Aug. 6, 2013) – Statement by MBA President and CEO David H. Stevens Regarding President Obama’s housing finance speech,“A Better Foundation for Middle Class Homeownership”:

“We applaud President Obama for laying out a vision for housing finance, with key elements similar to those embraced by many stakeholders, including MBA.This is an issue that affects the well-being of every American, whether a homeowner or a renter, and we welcome the President’s attention and leadership.

President Barack Obama
“Of particular importance is the President’s insistence on transitioning the mortgage market toward a future state that will rely primarily on private capital, while at the same time ensuring sufficient liquidity and the availability of the affordable 30 year fixed rate mortgage, and mortgages that finance multifamily rental housing, in both good and bad times, through an appropriate use of a government guarantee.

“Additionally, the President seems willing to adopt a common securitization platform and risk-share options, both of which are key components MBA believe should be part of reforming the secondary mortgage market and can be implemented now without legislation.

White House, Washington, DC
“Going forward it will continue to be critical that the White House and Congress work in a bi-partisan, cooperative manner to develop and implement long-term housing finance policies that support and protect all consumers, while at the same time promotes access to credit for all qualified borrowers.

“MBA looks forward to continuing to work with all involved parties in refining the numerous recently proposed plans and policies, in hopes of strengthening the housing finance system to ensure owner-occupied and rental housing for all Americans.”

A link to MBA’s five-part plan, Key Steps on the Road to GSE Reform, can be found here.

For a complete copy of the company’s news release, please contact:

Rob Van Raaphorst
(202) 557-2799

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